This year has started off quickly and it has been hard to focus on my goals. We had an unexpected event in January, which derailed a lot of my goals and the weather has really been messing with our family schedule. Sometimes it just feels like all you need to focus on is the next thing. Not what your yearly goal or what you need to get done after you leave work, but just keeping it simple. That is what January felt like.
Regardless of how I felt, my autopilot investments and income streams continued to produce. In January we were able to net over $1000 in our seven passive income streams. The blog income made up a majority of our income, and AirBnB started off slowly. We are already starting to see a number of AirBnB requests for February, and people are already starting to try and book for the summer. That is encouraging and makes me hopeful that we will make our $10,000 AirBnB goal.
Also, I was pleased to see that our Schwab monthly income fund is now producing $1.01 in dividends per month. All this started from our small sales of eggs when we were raising backyard chickens! It is amazing how a small investment can start building monthly dividend gains!
I'm also excited to say that we are now only four months away from our mortgage payoff! Woohoo!! It is hard to believe that this 13-year journey is almost over!
Here is a breakdown of where we now sit with our mortgage payoff:
Mortgage Pay Off Countdown
Paid last month: $3,710
Extra Money That Was Applied: $2,402
Goal of Pay Off Date: August 2018 – (new estimate: June 2018)
Here is a breakdown of my passive income streams from this past month and how we are doing it:
- Pension – [2018 Goal $1308] [made $109 in 2018] – didn't lift a finger this past month to cash in on my previous employer's pension and collected $109. Sweet!
- Blog Income – [2018 Goal – $7500] – [made $788 in 2018] – a solid start to the year with netting over $700 in the first month! If I can keep this up, then $7,500 should be well within reach.
- AirBnB – [2018 Goal $10,000] – [made $124 in 2018] – slow start to the new year, but the coming months are starting to heat up!
- Sell Stuff – [2017 Goal $2500] – [made $0 in 2018] – didn't have anything to sell this past month, but will probably have stuff to sell in the summer.
- Peer-to-Peer Lending – [2017 Goal $25] – [made $1.80 in 2018] – this investment is continuing to cool off for me. I can't get out of this investment fast enough and move onto investing in dividend stocks!
- YouTube Channel – [2017 Goal $25] – [made $29.25 in 2018] – haven't made a video yet in 2018, but I've got a lot of ideas that I'm writing content on video producing
- Schwab Monthly Income Fund – [2018 Goal $25] – [made $1.01 in 2018] – couldn't be more pleased where this passive income stream has gone over the past two years! As I continue to put in loose change, it continues to produce more and more! Boom!
This is my report of how I'm making side income and using that to pay off my mortgage. I'd be interested to hear what side hustles you've got, and what you are doing with your extra cash! Leave a comment below!